This paper examines possible explanations for “winner–loser reversals” in the national stock market indices of 16 countries. There is no evidence that loser countries are riskier than winner countries either in terms of standard deviations, covariance with the world market or other risk...

What is the effect of COVID-19 related school closures on student achievement? We provide causal evidence using variation in the duration of school closures across and within Australian states. School closures ranged from 4 to 112 days. We measure student achievement using test scores from a...

We estimate the causal effect of pandemic school closures on standardized test scores in Australia using variation in the length of school closures across states. States independently implemented school closures as part of Australia’s successful COVID elimination strategy. School closures in...